Housing market is too far gone.

[DrewDown]

FYI after getting shit-pumped for 3 straight days after the inflation numbers came out, bonds rallied hard today and rates improved. Yes, even though the fed raised rates 75 basis points, mortgage rates improved bigly. 122 basis points on the day.

View attachment 231546

So the ghost of Alan Gresnspan saw his shadow and I have to wait 6 more weeks for a collapse?

 

[Mejnoon]

FYI after getting shit-pumped for 3 straight days after the inflation numbers came out, bonds rallied hard today and rates improved. Yes, even though the fed raised rates 75 basis points, mortgage rates improved bigly. 122 basis points on the day.

View attachment 231546

Based on fed assurance that this 75 basis point bump will not be the norm going forward

 

[DrewDown]

I don't care if Alan Greenspan is supposedly alive

 

[saabguy]

They all say that

Just like when they tell the buyers that their realtor is one of their favorites

 

[DrewDown]

Based on fed assurance that this 75 basis point bump will not be the norm going forward

Until the next report of inflation

 

[Downset]

Just like when they tell the buyers that their realtor is one of their favorites

You don't do the same for realtor referrals?

 

[Mejnoon]

Until the next report of inflation

I don’t think so, they understand the risk of going too hard too fast. There are significant inflationary pressures unrelated to the money supply that aren't likely to resolve quickly.

 

[Weapon X]

Based on fed assurance that this 75 basis point bump will not be the norm going forward

He's already said it's on the plate for July.

Powell says the Fed could hike rates by 0.75 percentage point again in July

Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July.

www.cnbc.com

 

[Relax Preppy]

Did he explain to you about the transfer tax credit?

Don’t think so, just mentioned the lender credit - but don’t remember him explaining that one

 

[Mejnoon]

He's already said it's on the plate for July.

Powell says the Fed could hike rates by 0.75 percentage point again in July

Federal Reserve Chair Jerome Powell said Wednesday the central bank could raise interest rates by a similar magnitude at the next policy meeting in July.

www.cnbc.com

"Clearly today's 75 basis point increase is an unusually large one and I do not expect moves of this size to be common,"

 

[saabguy]

Don’t think so, just mentioned the lender credit - but don’t remember him explaining that one

One of the transfer taxes I put on the wrong line, so therefore you can’t be charged for it and I have to pay it.

Think of it as an early Juneteenth present, lol.

 

[Bugalu]

Just like when they tell the buyers that their realtor is one of their favorites

Lmao just giving you crap

 

[Relax Preppy]

One of the transfer taxes I put on the wrong line, so therefore you can’t be charged for it and I have to pay it.

Think of it as an early Juneteenth present, lol.

I was wondering where that lender credit came from, was thinking wow @saabguy really hooked us up

 

[roffle]

Officially closed

Rent back til 7/15 but the owners only have like two boxes worth of stuff left in the house so they should be out any day now

We closed early May. Probably won’t move in until mid July as well.

 

[Menger]

FYI after getting shit-pumped for 3 straight days after the inflation numbers came out, bonds rallied hard today and rates improved. Yes, even though the fed raised rates 75 basis points, mortgage rates improved bigly. 122 basis points on the day.

maybe I should make a big offer on this place tomorrow and try to get something locked in before the next wave of pessimism

 

[Xicculus]

3,400 sqft house in my neighborhood listed 10 days ago for $1.35 mill….they just lowered it $75k to $1.275. I’m sure it won’t sell still. Seems they are a few months late and missed the boat. Another house was listed for 40 days before it sold. Not nearly as many buyers in our area with the higher interest rates now.

What area?

 

[Gaunt]

Their preliminary offer means shit. They come in look at it mention all these repairs needed, lower the offer, people accept it, they don’t do any of them or do a few things super cheap (carpet or stuff) and resale it for full price

My sister n law bought a place from open door. The previous owner came over to drop something off and asked what they thought about the patio and fan. Sister said "what fan?"

Opendoor had removed the fan but left the open junction box there.

 

[Xicculus]

My sister n law bought a place from open door. The previous owner came over to drop something off and asked what they thought about the patio and fan. Sister said "what fan?"

Opendoor had removed the fan but left the open junction box there.

Open door or one of their crooked subs?

 

[monolith]

Yeah but now you have a whole new never ending list of shit to fix and pay for so that’s fun

Yea, better than giving some asshole a huge chunk of money every year and having absolutely zero to show for it, living on top of people I can't stand with no garage to work in or yard to play with my kids in. That's an easy choice.

 

[Cicada]

Wew lad

 

[Bugalu]

Open door or one of their crooked subs?

Yes

 

[Relax Preppy]

We closed early May. Probably won’t move in until mid July as well.

dont even feel like i own it

 

[Weapon X]

dont even feel like i own it

You don't

 

[Fanya]

dont even feel like i own it

Bank owns it. You get possession in 360 payments. Even then you don't really own it cause if you don't pay your taxes the county will take it from you. Enjoy.

 

[Xicculus]

Bank owns it. You get possession in 360 payments. Even then you don't really own it cause if you don't pay your taxes the county will take it from you. Enjoy.

Can the bank buy and sell it? Host parties in it? Change the paint scheme and the landscaping? Make sourdough bread in the oven? The bank doesn’t own it. The bank simply has a lien on it to secure repayment for the debt you took from them.